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Options Profit Calculator
Buying or writing a call or put? This options profit calculator plots the position's profit and loss at expiration — set the strike, premium and contracts and read break-even, max profit and max loss straight off the payoff diagram.
See how this works on a $100-strike option — 3 real examples
Educational tool — single-leg payoff at expiration only, not trading advice.
Break-even underlying price at expiry
$0.00
Maximum profit
$0
Maximum loss
$0
Net debit paid
$0
Payoff diagram at expiration
Enter a strike above $0, a premium of $0 or more, and at least one contract to see the payoff.
Show the payoff at each underlying priceProfit/loss across the price range
| Underlying price at expiry | Profit / loss |
|---|
How your option's profit and break-even are calculated
Each point on the payoff diagram is the option's intrinsic value at expiration minus the premium, per share, scaled to the whole position. With underlying price S, strike K, premium p and N contracts (100 shares each):
Long call P/L = [ max(0, S − K) − p ] × 100 × N
Long put P/L = [ max(0, K − S) − p ] × 100 × N
Written (short) positions are the exact negatives of the above.
The break-even is where P/L = 0: K + p for a call and K − p for a put. Maximum loss on a bought option is the premium, p × 100 × N; a bought call's maximum profit is unbounded (the price has no ceiling), and a written call's maximum loss is likewise unbounded, which we label “Unlimited” rather than a number. This is a single-leg, payoff-at-expiration model of deterministic intrinsic value only — it deliberately omits any Black-Scholes pricing, time value, the Greeks and probability-of-profit estimates, so before expiration the real option price will differ.
The same contract, three seats at the table
A $100 strike and a $5 premium — one contract, 100 shares. What buying the call, buying the put, or writing the call pays at expiry.
Long call: paying $500 for the upside
break-even at expiry$105
- The premium is the entire risk: expire anywhere below the strike and the loss stops at $500.
- Above the $105 break-even, each $2 the stock climbs adds $200 — with no ceiling.
- At $120 the position shows a $1,500 gain; below the $100 strike, the full −$500.
A fixed, known cost buys an open-ended claim on whatever happens above $105.
Load this example (opens in a new tab)Long put: the mirror image, downward
break-even at expiry$95
- The same $500 premium is at risk, and the position gains as the stock falls.
- Below the $95 break-even each $2 drop adds $200, topping out at $9,500 at a price of zero.
- At $80 the payoff reads $1,500; anywhere above $100 it settles at −$500.
A put caps its best case at $9,500 — a stock cannot fall past zero.
Load this example (opens in a new tab)Short call: collecting the $500 instead
maximum profit$500
- The writer keeps the full $500 premium whenever the stock finishes under the $100 strike.
- The $105 break-even is the same line, seen from the other side of the trade.
- Past it, losses grow without limit — $1,500 down at $120, and the line never flattens.
Buyer and writer share one diagram; switching sides flips it across the zero line.
Load this example (opens in a new tab)Illustrations only, not financial advice. Your own rate, taxes and insurance will differ — check with a qualified financial advisor before acting on any of this.
Reading an options payoff diagram in plain English
- The flat section of the line is where the option expires worthless or is fully exercised at a fixed result — for a bought option that floor is your premium at risk.
- The sloped section moves dollar-for-dollar (× 100 per contract) with the underlying — that is where a call or put option calculator earns or loses real money.
- Where the line crosses zero is the break-even. Left of it you are red, right of it green (reversed for puts).
- Buying flips risk and reward versus writing: the same contract's diagram simply mirrors across the zero line when you switch sides.
- “Unlimited” on a call means the profit (long) or loss (short) line never flattens on the upside — size the trade accordingly.
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Frequently asked questions
How do I calculate profit on a call option?
For a call you bought, profit per share equals the stock price at expiration minus the strike, minus the premium you paid — but never less than the premium itself. Multiply by 100 shares per contract and by the number of contracts. Example: a $100 strike call bought for $5 with the stock at $112 is (112 − 100 − 5) = $7 per share, or $700 on one contract.
What is the break-even price on a call or put?
For a long call the break-even is the strike plus the premium paid per share; for a long put it is the strike minus the premium. That is the underlying price at expiration where the trade neither makes nor loses money. This call and put option calculator marks that point directly on the payoff diagram.
What is the maximum loss on an option?
If you buy (go long) a call or put, your maximum loss is capped at the premium you paid — nothing more. If you write (sell) an option, the loss can be far larger: a written call has theoretically unlimited loss because the stock can keep rising, and a written put can lose down to the strike minus the premium collected.
What is an options payoff diagram?
An options payoff diagram is a line chart of profit or loss versus the underlying price at expiration. Where the line crosses zero is the break-even; the flat and sloped sections show where profit is capped or where it keeps growing. The chart above shades profit green, loss red, and labels the break-even, max profit and max loss.
What is the difference between buying and writing an option?
When you buy (long) an option you pay the premium up front and your loss is limited to that premium, while the upside can be large. When you write (short) an option you collect the premium as your maximum gain, but you take on the larger risk if the option moves against you. Toggle Buy/Write above to flip the payoff instantly.
Does this options profit calculator include the Greeks or probability of profit?
No. This is a single-leg, payoff-at-expiry tool: it computes the deterministic intrinsic value of one call or put at expiration only. It does not run a Black-Scholes model, so it will not show delta, gamma, theta, vega, implied volatility or a probability-of-profit figure — those depend on assumptions this tool intentionally leaves out.
Why does a long call show "Unlimited" maximum profit?
A stock has no ceiling, so a call you own can in theory keep gaining value as the price climbs — the profit line never flattens on the upside. We display that as "Unlimited" rather than a number. The chart clips the line to the visible price range, but the label reminds you the upside is open-ended.
Disclaimer: these calculators are educational tools, not financial advice. They model your inputs with published formulas, but they cannot know your full situation — for decisions with real stakes, talk to a qualified professional. Formulas and defaults last reviewed .